Burcon Nutrascience (BU) AI Stock Analysis

• Market Cap: C$23.35M
• Dividend Yield: N/A
• Average Volume (3M): 6.58K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.23
• Revenue Growth: 190.07%
• EPS Growth: -2.88%
• Country: CA
• Employees: 25
• Sector: Consumer Defensive
• Sector Strength: 42
• Industry: Packaged Foods
• EPS (TTM): -0.28
• Shares Outstanding: 12,688,076
• 10 Day Avg. Volume: 9,144
• 30 Day Avg. Volume: 6,578
• PEG Ratio: >-0.01
• Price to Book (P/B): 2.14
• Price to Sales (P/S): 38.96
• P/FCF Ratio: -2.55
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: Hold
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 41 Neutral
• Price Target: C$1.50 ▼(-15.25% Downside)

Burcon Nutrascience's overall stock score is primarily impacted by its poor financial performance, characterized by negative profitability and high leverage. The technical analysis further indicates bearish momentum, while valuation metrics are weak due to a negative P/E ratio and lack of dividend yield.

Positive Factors

Revenue Growth

The company's ability to achieve revenue growth reflects its potential to capture market share in the expanding plant-based protein sector.

Market Position

Strategic partnerships bolster Burcon's market position, providing a competitive edge and facilitating access to broader distribution channels.

Industry Trends

The shift towards plant-based diets is a durable trend, positioning Burcon to benefit from increasing consumer preference for sustainable food options.

Negative Factors

Negative Profitability

Persistent negative margins indicate operational inefficiencies and challenges in achieving profitability, which could hinder long-term financial health.

High Leverage

High leverage increases financial risk and limits flexibility, potentially impacting Burcon's ability to invest in growth opportunities.

Cash Flow Challenges

Negative cash flows suggest difficulties in sustaining operations and funding growth, posing risks to Burcon's financial stability.

Burcon Nutrascience Business Overview & Revenue Model

Company Description

Burcon NutraScience Corporation, together with its subsidiaries, develops plant proteins and ingredients for use in the food and beverage industries in Canada. The company's products include Peazazz, a pea protein for use in dairy alternatives, ready-to-drink beverages, dry blended beverages, bars, baked goods, and meat substitute products; and Peazac and Peazac 850, a pea protein for plant-based meat alternative products, ready-to-mix powders, ready-to-mix beverages, dairy alternatives, and nutrition bars, as well as other applications requiring the most neutral flavor and moderate viscosity. It provides Puratein, a canola protein isolate for use in meat alternatives, such as burgers, sausages, and nutrition bars; Supertein, a canola protein that is a light-colored powder for use in non-dairy frozen desserts, egg alternative, plant-based marshmallows and ready-to-mix beverages, whipped toppings, and plant-based bars; and Nutratein, a canola protein comprising a mixture of globulin and albumin proteins for use in meat and egg alternatives, and other plant-based functional foods. In addition, the company offers Nutratein-PS and Nutratein-TZ, a blend of Peazac pea protein; and CLARISOY, a soy protein for use in sports nutrition beverages, citrus-based drinks, fruit-flavored beverages, lemonades, powdered beverage mixes, and other foods and nutritional products. Further, it provides MeritPro, a nutritional protein blend, including allergen-free, gluten-free, non-dairy, non-GMO, and vegan. The company was formerly known as Burcon Capital Corp. and changed its name to Burcon NutraScience Corporation in October 1999. The company was incorporated in 1998 and is headquartered in Vancouver, Canada.

How the Company Makes Money

Burcon Nutrascience generates revenue through several key streams, including the licensing of its proprietary protein extraction and purification technologies to food manufacturers, which allows them to produce their own plant-based protein products. Additionally, the company sells its protein ingredients directly to food and beverage companies for inclusion in their products. Significant partnerships with major food industry players enhance Burcon's market reach and credibility, contributing to its earnings. The company also explores joint ventures and collaborations that leverage its technology and product offerings in the rapidly expanding plant-based market, providing further avenues for revenue generation.

Burcon Nutrascience Financial Statement Overview

Summary

Burcon Nutrascience is facing significant financial challenges, with negative profitability and high leverage. Despite some revenue growth, the negative cash flows and high debt-to-equity ratio indicate potential liquidity problems and financial instability.

Income Statement

Burcon Nutrascience has shown a modest revenue growth rate of 12.65% in the latest year, which is a positive sign. However, the company is struggling with negative margins across the board, including a significant net profit margin of -2167.1% and negative EBIT and EBITDA margins. These figures indicate ongoing operational challenges and a lack of profitability, which are concerning for the company's financial health.

Balance Sheet

The balance sheet reveals a high debt-to-equity ratio, indicating significant leverage, which could pose financial risks. The return on equity is negative, reflecting the company's inability to generate profits from shareholders' equity. The equity ratio is relatively low, suggesting limited financial stability. Overall, the balance sheet highlights potential risks due to high leverage and low profitability.

Cash Flow

The cash flow statement shows negative operating and free cash flows, with a declining free cash flow growth rate of -9.44%. The operating cash flow to net income ratio is negative, indicating cash flow challenges. These factors suggest that the company is facing difficulties in generating sufficient cash to support its operations and growth.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	803.71K	381.40K	184.36K	363.91K	171.47K	258.65K
Gross Profit	-4.64M	-870.76K	184.36K	363.91K	171.47K	-527.31K
EBITDA	-8.11M	-7.43M	-6.23M	-18.90M	-9.92M	-4.73M
Net Income	-11.11M	-8.26M	-7.45M	-25.36M	-10.26M	-617.49K
Balance Sheet
Total Assets	24.55M	30.66M	12.91M	9.90M	29.35M	37.72M
Cash, Cash Equivalents and Short-Term Investments	1.75M	7.28M	4.20M	1.46M	7.00M	13.97M
Total Debt	23.20M	22.40M	6.67M	5.17M	73.14K	33.70K
Total Liabilities	24.42M	23.71M	7.76M	5.76M	1.10M	1.45M
Stockholders Equity	129.12K	6.94M	5.15M	4.14M	28.25M	36.27M
Cash Flow
Free Cash Flow	-7.90M	-5.82M	-5.90M	-6.38M	-7.18M	-5.91M
Operating Cash Flow	-7.13M	-5.51M	-5.78M	-6.02M	-5.91M	-3.03M
Investing Cash Flow	-2.13M	-1.66M	-39.49K	-4.43M	-1.23M	-2.72M
Financing Cash Flow	10.10M	10.23M	8.56M	4.90M	174.08K	4.70M

Burcon Nutrascience Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 1.77
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:BU, the sentiment is Neutral. The current price of 1.77 is above the 20-day moving average (MA) of 1.72, below the 50-day MA of 2.01, and below the 200-day MA of 2.29, indicating a neutral trend. The MACD of -0.07 indicates Negative momentum. The RSI at 46.77 is Neutral, neither overbought nor oversold. The STOCH value of 89.32 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for TSE:BU.

Burcon Nutrascience Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	62 Neutral	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%
NPRA	44 Neutral	C$13.66M	-4.67	―	―	69.12%	43.02%
BU	41 Neutral	C$23.35M	-1.77	-1208.82%	―	190.07%	-2.88%
BABY	38 Underperform	C$3.93M	-0.27	-517.87%	―	-25.08%	65.57%
CULT	33 Underperform	C$1.12M	-0.14	-190.55%	―	―	-126.28%
PNGA	27 Underperform	C$3.79M	-1.85	-86.40%	―	-49.04%	15.66%

Burcon Nutrascience Corporate Events

Burcon Insiders Boost Investment in Convertible Debenture Offering

Burcon NutraScience Corporation announced that its insiders have increased their commitment to a non-brokered private placement of convertible debentures, reflecting confidence in the company’s business plan and sales trajectory. This increased insider participation may require disinterested shareholder approval, leading to an extension of the offering’s closing timeline. The move underscores Burcon’s commercial momentum and its ability to deliver value to shareholders as it continues to position itself as a key player in the plant-based protein market.

Burcon NutraScience Secures $4 Million in Convertible Debentures to Fuel Growth

Burcon NutraScience Corporation has announced a non-brokered private placement of convertible debentures totaling up to $4 million, with insiders committing to at least $2 million. This financing aims to provide capital flexibility to support Burcon’s growth as it experiences increasing customer demand. The company also entered into a loan agreement for $700,000 to further bolster its financial position. The proceeds from these financial activities will be used to enhance production capabilities, plan for future infrastructure investments, and repay short-term loans, positioning Burcon for accelerated growth and strengthening its market presence.

Burcon NutraScience to Discuss Q2 Financial Results Amid Growing Protein Sales

Burcon NutraScience announced it will hold a conference call on November 12, 2025, to discuss its fiscal 2026 second-quarter financial results. The company is experiencing increased momentum in protein sales as customers transition to commercial purchase orders, reaffirming its 2025 revenue target of $1-3 million. This growing demand is expected to drive revenue acceleration and margin expansion into 2026, highlighting Burcon’s strengthening position in the plant-based protein industry.

Burcon’s Plant-Based Proteins Excel in Cheese Study

Burcon NutraScience Corporation announced that a study by the University of Guelph demonstrated their Peazazz®C pea protein and Solatein™ sunflower protein significantly outperform a leading competitor’s pea protein in plant-based cheese applications. This achievement marks a significant advancement in plant-based cheese production, offering dairy-like melt and stretch properties, and opens new commercial opportunities in the growing dairy-alternative market.

Burcon NutraScience Achieves First Commercial Sales of High-Purity Canola Protein

Burcon NutraScience Corporation has announced its first commercial sales of Puratein®C, a high-purity canola protein isolate with over 90% protein content. This milestone is a significant step in Burcon’s strategy to establish recurring revenue and expand its market reach across high-growth product categories. Puratein C, derived from non-GMO, North American-grown canola seeds, is designed to meet the increasing demand for clean-label, nutritionally complete plant proteins. Its versatility makes it suitable for a wide range of food and beverage applications, reinforcing Burcon’s commitment to delivering sustainable protein solutions.